Daily Forex Fundamentals – July 26, 2013

What’s on the Economic Horizon

University of Michigan consumer sentiment index to be revised higher
Japanese CPI Ticks Slightly Higher

U.S. Dollar (USD)

So much for ending the day in the green! After getting off to a solid start during the London session, the dollar came crashing lower on weak data, allowing EUR/USD and GBP/USD to soar to new highs. What the heck happened?! Read more…

Euro (EUR)

The euro had another stellar performance on the chart despite the sub-forecast reading from the German IFO survey. Thanks to a strong finish in the New York session, EUR/USD ended 87 pips higher at 1.3285. Read more…

British Pound (GBP)

Talk about a topsy turvy day! The pound traded higher ahead of the much-anticipated U.K. GDP report only to get sold off when the official data came out. GBP/USD dropped like a rock from 1.5387 to 1.5265! However, the currency quickly regained its composure and the pair settled 84 pips above its opening price at 1.5394. Read more…

Japanese Yen (JPY)

Everyone give the yen a forex high five! It just gave dominated the forex market yesterday! With USD/JPY dropping below 99.50, EUR/JPY and GBP/JPY simply followed suit and melted down the chart as well! Read more…

Canadian Dollar (CAD)

The USD/CAD sell-off continues! Snatching away 49 pips from its American counterpart, the Canadian dollar ended the day with another win to extend its rally. Will it do it again today? Read more…

Australian Dollar (AUD)

It was a bounce back Thursday for the Aussie, as it came roaring back yesterday! After opening the day at .9158, AUD/USD rose 100 pips to finish at .9258. Can the Aussie continue to rise? Read more…

New Zealand Dollar (NZD)

Whoa, look at the Kiwi soar! NZD/USD easily flew past the major .8000 handle yesterday following the surprisingly hawkish RBNZ rate statement. The pair finished the day with a whopping 157-pip gain at .8091. Read more…

Swiss Franc (CHF)

The franc looked so darn fine like a rich, dark, moist chocolate cake after a hard day. It rallied strongly against the dollar, finishing with an 86-pip gain as USD/CHF closed at .9292. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!